— CryptøManiac101 (NOT GIVING AWAY CRYPTO) (@_Crypto_Maniac_) June 13, 2019
Ripple vs. SWIFT
He also mentioned one particular remittance company but did not say which that was. But it has recently begun using Ripple for transferring funds, and he highlighted the fact that the results are the following:
“They have brought down the commission fee for transactions from $20 to $2 for their clients. As an outcome, the firm saw an 800-percent rise in usage overnight,” says the online publication mentioned above.
He also explained that Ripple could deal with issues that SWIFT cannot and said that Ripple is “part of the new world order.”
Ripple has been working hard to overcome the issues that have been plaguing SWIFT because even if the traditional payments system has been used by banks and financial institutions for decades, it was not able to keep up with all the innovations of technology.